Senior Manager – Cost Estimation
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Key skills for this role
About the Role
Modon seeks a Senior Manager – Cost Estimation to lead cost estimation and budgeting for large-scale real estate projects in Abu Dhabi. The role involves developing cost frameworks, managing risks, and collaborating with stakeholders.
Key Skills for This Role
Responsibilities
- Develop and implement cost estimation frameworks for real estate projects, ensuring accuracy and alignment with organizational goals
- Oversee the preparation of cost estimates during all project phases, from pre concept to execution
- Continuously improve cost estimation processes to ensure efficiency and accuracy across all projects
- Collaborate with project management teams to develop detailed project budgets based on cost estimates
- Provide cost forecasts and financial insights to support decision making during project planning and execution
- Ensure budget adherence by monitoring costs throughout the project lifecycle and adjusting estimates as needed
- Identify potential cost risks, including market volatility, material costs, and unforeseen project changes
- Develop strategies to mitigate cost risks, including contingency planning and value engineering
- Regularly update risk assessments based on project progress and market conditions
- Work with procurement teams to evaluate vendor and contractor bids, ensuring alignment with cost estimates
- Ensure that contractor pricing aligns with project budgets and expected quality standards
- Monitor contractor performance to ensure cost control and adherence to budget agreements
Requirements
- Bachelor’s degree in quantity surveying, civil engineering, construction management, or a related field
- Master’s degree such as an MBA is desired
- Relevant professional certifications such as PMP / MRICS are preferred
- At least 10 13 years of experience in cost estimation, budgeting, or quantity surveying within the real estate or construction industry
Full Job Posting
Job Purpose
- Responsible for leading the cost estimation and budgeting processes for large scale real estate projects.
- Ensures accurate cost forecasts, aligns project budgets with strategic goals, and supports financial decision making.
- Manages cost risk, provides insights for project feasibility, and optimizes resource allocation.
Roles, Responsibilities, Duties
- Develop and implement cost estimation frameworks for real estate projects, ensuring accuracy and alignment with organizational goals.
- Oversee the preparation of cost estimates during all project phases, from pre concept to execution.
- Continuously improve cost estimation processes to ensure efficiency and accuracy across all projects.
- Collaborate with project management teams to develop detailed project budgets based on cost estimates.
- Provide cost forecasts and financial insights to support decision making during project planning and execution.
- Ensure budget adherence by monitoring costs throughout the project lifecycle and adjusting estimates as needed.
- Identify potential cost risks, including market volatility, material costs, and unforeseen project changes.
- Develop strategies to mitigate cost risks, including contingency planning and value engineering.
- Regularly update risk assessments based on project progress and market conditions.
- Work with procurement teams to evaluate vendor and contractor bids, ensuring alignment with cost estimates.
- Ensure that contractor pricing aligns with project budgets and expected quality standards.
- Monitor contractor performance to ensure cost control and adherence to budget agreements.
Qualifications
- A bachelor’s degree in quantity surveying, civil engineering, construction management, or a related field.
- A master’s degree such as an MBA is desired.
- Relevant professional certifications such as a PMP / MRICS are preferred.
Experience and Competencies
- At least 10 13 years of experience in cost estimation, budgeting, or quantity surveying within the real estate or construction industry.
- Advanced proficiency in preparing detailed cost estimates for complex real estate projects.
- Ability to develop accurate, comprehensive cost plans for all project phases, from concept to delivery.
- Strong ability to analyze project data, market trends, and pricing to refine cost estimates.
- Competence in financial forecasting, budgeting, and value engineering to optimize project cost structures.
- Skilled in identifying potential cost risks and implementing strategies to mitigate them.
- Strong problem solving skills to address cost overruns and unforeseen financial challenges.
- Ability to work closely with procurement teams and vendors to align contract pricing with project budgets.
- Skilled in evaluating contractor bids and negotiating cost effective solutions.
- Strong presentation and reporting skills, capable of providing cost insights to senior leadership.
- Proficient in engaging with cross functional teams to align cost estimation with broader project goals.
- High attention to detail in managing cost data, ensuring accuracy and precision in estimates.
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